Zynga's $1 Billion IPO Will Serve as Facebook's Opening Act

Zynga, the leading developer for Facebook and mobile games, will turn
in the paperwork for their initial public offering on Wednesday, say
multiple reports. The amount of money expected to change hands when the
company's stock hits the market is staggering. According to The Wall Street Journal's sources, Zynga expects to raise up to $2 billion, a figure that puts the company's valuation between $15 and $20 billion.

CNBC's Kate Kelly, who broke the news of Zynga's intentions Tuesday afternoon, reports
that Morgan Stanley and Goldman Sachs would underwrite the deal. "The
expected Zynga IPO--which could come early this fall, on the heels of a
midsummer SEC filing--marks another milestone in what is shaping up to
be a euphoric period for Internet new issues," wrote Kelly. Indeed, the
last Silicon Valley IPO of this size was Google, which raised $1.67
billion in 2004.